The submersible pumps market is estimated to record a CAGR of nearly 5.0% through 2029.

South Asia and East Asia are expected to reign supreme in the global submersible pumps market. In addition, Europe is estimated to account for a significant share of the submersible pumps market during the forecast period.

Gains in the submersible pumps market are expected to remain driven by growing number water & wastewater treatment projects, and increasing investments in oil & gas exploration activities.

Rapid economic growth in India have complemented growth of various manufacturing and fabrication plants, in turn creating demand for products such as submersible pumps.

Increasing number of offshore LNG projects and mining exports in Australia have also augured well for growth of the submersible pumps market.

Water & wastewater treatment activities are expected account for a larger share of submersible pumps adoption, as governments across the globe take robust initiatives for safe and sustainable water supply.

With government initiatives towards the provision of water and wastewater treatment facilities, submersible pumps are expected to witness significant demand in the coming years. For example, the Chinese government secured funding of approximately US$ 60 Bn in 2015 for improving the urban wastewater infrastructure. In addition, the Canadian government is targeting investments worth US$ 20 Bn to improve its local wastewater and water infrastructure.

Top 3 Factors Shaping the Submersible Pumps Market

Influx of Investments in Oil & Gas Exploration

Oil companies have been significantly focusing on exploration of shallow-water oil fields, and later, on ultra-deep water measuring around 5,000 feet, to cater growing demand from power industries vis-à-vis depletion of onshore fields in recent years.

The search for unexplored oil & gas reserves by E&P, and use of artificial lift methods for the production of reservoirs with low formation pressure continue to complement growth of the submersible pumps market. As oil & gas production are closing in on a mature phase, the use of electrical submersible pumps for recovering oil & gas has emerged as a key trend in the submersible pumps market.

IoT and connected devices have witnessed extensive adoption in the oil & gas sector, with the focus on increasing efficiency in the industry operations. IoT devices enable remote monitoring of operations and access to data, thereby saving on labor cost. This has a significantly positive impact on the submersible pump operations, meanwhile enhancing access to data.

As the trend of automation continues to spiral up across industries, integration of IoT and connected devices with process equipment such as submersible pumps will gain widespread traction in the near future.

Low Priced Offerings by China-based Pump Manufacturers

The presence of a large number of Chinese players offering low-priced submersible pumps has been a key competitive challenge among other regional and global market players. Increasing price pressure from these players is influencing key suppliers to offer high-quality, reliable, efficient, and technologically-advanced submersible pumps at competitive prices. However, the price-sensitive nature of the target market is a restraining factor on the overall revenue growth potential of the global submersible pumps market. In order to overcome this challenge, international submersible pump vendors need to differentiate their products through various additional services and integration of advanced technologies.

Leading players in the submersible pumps market are focusing on strategic expansion in key geographical locations, in line with robust R&D investments to develop advanced, and customisable products.

Future Market Insights, in its recent report on the submersible pumps market, provides a detailed value-volume analysis of the submersible pumps market on the basis of various segments such as application, head type, product type, and region. In terms of application, the water & wastewater segment is projected to lead the market share, owing to the high volume consumption of submersible pumps in this sector, while the agriculture and oil & gas segments are anticipated to provide lucrative growth opportunities in the global submersible pumps market.

Submersible pumps are those pumps that can be submerged in liquid, and hence offer various advantages over standard pumps. Due to their ability to prevent pump cavitation, which is a problem associated with the high elevation difference between the pump and liquid surfaces, they are more preferred in pumping applications. Hence, the submersible pumps market is projected to witness robust growth over the forecast period.

The submersible pumps market report covers market analysis through basis point analysis (BPS), incremental dollar opportunity index, market attractiveness analysis, and Y-o-Y growth for the historical period 2014–2018, and a forecast analysis for 2019–2029, with 2018 as the base year.

Overview of the Submersible Pumps Market Report

Submersible Pumps Market: Executive Summary

The submersible pumps market report begins with an executive summary covering a gist of the overall report, highlighting the global submersible pumps market overview in terms of value and volume through various segments. This section also covers the key supply- and demand-side trends, technology roadmap, and FMI analysis and recommendations for the global submersible pumps market.

Submersible Pumps Market: Introduction

The market introduction section of the report covers the market definition, market taxonomy, and research scope of the submersible pumps market.

Submersible Pumps Market: Background

The market background section of the global submersible pumps market report includes the macroeconomic factors, value chain analysis, drivers, restraints, trends, and opportunities, along with forecast factors affecting the growth of the submersible pumps market.

Submersible Pumps Market: Segmentation

Product Type

Head Type

Application

Region

Borewells

Non-Clog

Openwells

Below 50 Meters

50 m - 100 m

Above 100 Meters

Agriculture

Construction

Firefighting

Water & Wastewater

Mining

Oil & Gas

Other Industrial

North America

Latin America

Europe

South Asia

East Asia

Middle East & Africa

Submersible Pumps Market: Forecast

The market forecast section provides a pricing analysis of the submersible pumps market on the basis of regional fronts by application, wherein, weighted average price has been computed to arrive at global average prices. This section also covers the global market analysis on the basis of different segments, along with regional segmental analysis in terms of volume and value, Y-o-Y growth, market attractiveness index, and market share.

Submersible Pumps Market: Emerging Countries Analysis

This section covers the submersible pumps market analysis for the key emerging countries that are projected to create lucrative growth opportunities for submersible pump manufacturers around the world.

Submersible Pumps Market: Competition Analysis

In the final section of the report, a detailed competition analysis has been done with market share analysis pertaining to the submersible pumps market, and performance of the manufacturers by a tier-down structure of the global submersible pumps market. The section also covers detailed company profiles of the key players in the submersible pumps market. Examples of the key competitors in the submersible pumps market are KSB AG, Flowserve Corp, Sulzer AG, Ebara Corporation, Weir Group Plc., Xylem Inc., Wilo SE, Kubota Corporation, Wacker Neuson Group, Atlas Copco Group, Tsurumi Manufacturing Co., Ltd., Ingersoll-Rand plc, and Kirloskar Brothers Ltd., among others.

Research Methodology

The first stage of the submersible pumps market research entailed the formulation of an initial hypothesis, which was considered from primary as well as secondary approaches. To analyse the submersible pumps market share and competition analysis, we tracked the key developments in the submersible pumps market, such as collaborations, expansion, mergers & acquisitions, new orders, product launches, and awards and recognition for companies operating in the market. Competition benchmarking has been provided for the top 5 competitors with respect to the sales performance of submersible pumps.